The volume of imports and exports in China fell significantly less than forecast.
Global financial markets on Tuesday showed growth amid the publication of encouraging data on trade in China and attempts by several countries to restart the economy by partially lifting restrictions imposed to curb the spread of the coronavirus.
European stock indexes opened higher. The pan-European STOXX 600 index rose 0.5 percent – the highest gain since March 11. US index futures rose by almost 1 percent.
According to analysts, the threat of a deeper and longer economic downturn is beginning to weaken as the number of cases of infection decreases in several countries, and the anti-crisis measures taken are beginning to bear fruit.
Spanish shares rose 1.5 percent after some companies opened, although bars, restaurants and other public places will remain closed until at least April 26.
Investors were also encouraged by the published data on Chinese exports, which in March decreased by only 6.6 percent compared to last year, while a decline of 14 percent was forecast. Imports fell 0.9 percent, not 9.5 percent as expected.
Thanks to positive dynamics in Europe, the MSCI international index, covering 49 countries, rose by 0.5 percent.
In China, the blue-chip index rose 1.2 percent, Australian shares rose 1.7 percent, Japan’s Nikkei index rose 268 percent, and Hong Kong’s Hang Seng rose 0.9 percent.
Oil prices, meanwhile, declined: apparently, investors are not convinced that the record reduction in production volumes will soon balance the markets that collapsed due to the coronavirus pandemic, although the projected decline in shale oil production in the United States provides some support. Benchmark Brent crude futures fell 0.95 percent to $ 31.46 a barrel, while US WTI crude fell 2.3 percent to $ 21.89 a barrel (down 1.5 percent from the previous session).
Gold prices reached a seven-year high of $ 1,720. 1 per ounce.